Ccil

MUMBAI: The Clearing Corporation of India has begun extending the facility of guaranteed settlement of trades in government securities to its members. CCIL commenced its operations on February 15. The corporation was waiting for members to meet their contribution to the settlement guarantee fund for government securities before extending the guarantee. It is setting up a guarantee fund for foreign exchange transactions also. The size of this fund is expected to be $100 million, said CCIL officials.

MUMBAI: The Clearing Corporation of India (CCIL) — a clearing and settlement platform for OTC debt, forex, money market and derivative transactions — has for the first time assigned a Legal Entity Identifier (LEI) code to Indian Clearing Corporation, the clearing house for the BSE. The Reserve Bank of India (RBI) is expected to make it mandatory to have such a code for all banks or corporates involved in over-the-counter derivatives. On Tuesday, ...

MUMBAI: The Reserve Bank on Wednesday granted the status of a Qualified Central Counterparty (QCCP) to Clearing Corporation of India Ltd in the Indian jurisdiction. The mandate came in view of the fact that CCIL is authorised and supervised by the Reserve Bank of India under the Payment and Settlement Systems Act, 2007. A qualifying central counterparty (QCCP) is a licensed entity. It operates as a central counterparty, which is a clearing house. It may be recalled that CCIL was...

mumbai: clearing corporation of india is likely to provide counter party services for settlement of foreign exchange transactions in the country in next six months, reserve bank of india deputy governor y v reddy said. ccil commenced its operations as central counter party for goverment securities trading from february 15 and its facility to give gurantees for foreign currency deals was expected to be ready within next six months, reddy was quoted as saying, addressing the asian bond...

MUMBAI: India is set to join global efforts to bring in transparency in over-the-counter (OTC) derivatives market as part of a series of measures being put in place to avoid a repeat of the worst financial crisis seen in recent decades that was triggered by the collapse of Lehman Brothers in September 2008. On Tuesday, the Clearing Corporation of India (CCIL) — a clearing and settlement platform for OTC debt, forex, money market and derivative transactions...

MUMBAI: Banks' exposure to a qualifying clearing house would be kept outside the limit of 15 per cent of their capital funds applicable to a single counterparty, the Reserve Bank said today. "...as an interim measure, a bank's clearing exposure to a Qualifying Central Counterparty (QCCP) will be kept outside of the exposure ceiling of 15 per cent of its capital funds applicable to a single counterparty," the RBI said in a notification. The exposure limit...

MUMBAI: The Reserve Bank of India (RBI) has cleared the securities borrowing and lending programme (SBLP), to be launched by the Clearing Corporation of India (CCIL). The programme would allow CCIL to borrow securities from market participants to meet its pay-out obligations. It will also enable it to compensate participants, whose counter-parties default on pay-in of securities, through bonds instead of cash. At present, CCIL dips into its settlement guarantee fund (SGF)

The Reserve Bank of India has directed participants in the money market to become members of negotiated dealing system and Clearing Corporation of India by March 31. In a circular to all SGL account-holders, the central bank has stated that it will not entertain any transactions outside the NDS-CCIL system from April 1. The RBI had given extension to some participants such as co-operative banks in the past to become members of NDS-CCIL, due...

NEW DELHI: International Finance Corp, the World Bank's private sector lending arm, today said it would give a 19.4 million dollar loan to Continental Carbon India Ltd besides investing two million dollars as equity. The loan would enable CCIL, which is based in Uttar Pradesh, to expand its power production capacity with a new 15 MW plant, IFC said in a release. IFC would extend seven million dollars from its own account and would syndicate the balance 12.4 million dollars, it said.

MUMBAI: In an attempt to improve transparency in government security dealings by co-operative banks, the Reserve Bank of India has asked all the co-operative banks maintaining subsidiary general ledger account with it to become member of both the negotiated dealing system and Clearing Corporation of India. These banks have time till May 31 to take membership of NDS and, consequently the CCIL. The banks have been told that if they failed to do so, their SGL account will be...

MUMBAI: THE Reserve Bank of India (RBI) is considering a proposal to allow the Clearing Corporation of India (CCIL) to borrow bonds from market participants to meet its pay-out obligations and reduce the need to dip into the settlement guarantee fund (SGF) for managing defaults. The corporation intends to launch a scheme called "securities borrowing and lending programme (SBLP)," which would allow CCIL to provide security cover for counter-party defaults, instead of the...

MUMBAI: The Reserve Bank on Wednesday granted the status of a Qualified Central Counterparty (QCCP) to Clearing Corporation of India Ltd in the Indian jurisdiction. The mandate came in view of the fact that CCIL is authorised and supervised by the Reserve Bank of India under the Payment and Settlement Systems Act, 2007. A qualifying central counterparty (QCCP) is a licensed entity. It operates as a central counterparty, which is a clearing house. It may be recalled that CCIL was...

By S Ramann , Former ED, Sebi These are unusual times. We witness the travails of a clearing house of an exchange in the commodity spot markets. The comparison with equity markets springs up immediately. Sebi circulars had enforced the guarantee of settlement by a clearing house through a Settlement Guarantee Fund (SGF) or by establishing a clearing corporation. Further, a 2012 regulation made a clearing corporation mandatory with a minimum net worth of 300 crore.

MUMBAI: New rules in a post-Lehman world will force regulators in emerging markets like India to make hard choices. The RBI and Sebi will have to take a call in the next few months on whether to allow European authorities to supervise Indian clearing houses that are at the centre of most financial market trades. Fund managers and banks in Europe fear that they may have to dramatically cut their exposures to stocks , debts and currency ...

MUMBAI: Country Club (India) Ltd (CCIL)today reported 11.07 per cent growth in the net profit at Rs 7.23 crore for the first quarter ended June 30, over the same period last year. The net profit for the April-June quarter of FY11 stood at Rs 6.51 crore, CCIL said in a release issued here. The total income of the company went up by 9.1 per cent for the quarter under review at Rs 77.09 crore as compared to Rs 70.61 crore in the corresponding period last fiscal.

MUMBAI: Leisure and clubbing major, Country Club India, has lined-up a Rs 100 crore investment over two years to set up a chain of country spas pan-India even as it eyes property acquisitions in the Gulf, a top company official said. "We have earmarked Rs 100 crore to set up four to five country spas pan-India, the first of which will be opened in Mumbai by end-this year. We are also looking at acquisitions overseas in destinations such as Muscat, Abu...

MUMBAI: The Clearing Corporation of India (CCIL) — a clearing and settlement platform for OTC debt, forex, money market and derivative transactions — has for the first time assigned a Legal Entity Identifier (LEI) code to Indian Clearing Corporation, the clearing house for the BSE. The Reserve Bank of India (RBI) is expected to make it mandatory to have such a code for all banks or corporates involved in over-the-counter derivatives. On...

MUMBAI: Country Club (India) Ltd , a leisure infrastructure company operating a chain of clubs under the brand 'Country Club', today reported 98 per cent growth in net profit at Rs 14.39 crore for the quarter ended March 31 compared to the same period last fiscal. Country Club's (CCIL) net profit stood at Rs 7.28 crore in Q4 of FY10, the company said in a release issue here today. CCIL posted a 31.42 per cent growth in revenue at Rs 92 crore for the last...

What is NDS-OM ? To enable institutional investors to trade in government securities in a transparent manner, the Reserve Bank of India introduced the Negotiated Dealing System-order matching, or NDS-OM , in August 2005. It is an electronic, screen-based , order-driven trading platform designed exclusively for government securities. The platform is owned by RBI, but is maintained by the Clearing Corporation of India , or CCIL. How does it work?